Companies Act 2014 section 1625

Notification to Supervisory Authority of certain matters regarding cessation of office

Section 1625 requires that when a statutory auditor appointed to carry out assurance of sustainability reporting ceases to hold office, both the auditor and the company must notify the Supervisory Authority, following the same rules that apply when a regular statutory auditor leaves office.

• The existing obligations on auditors (section 403) and companies (section 404) to notify the Supervisory Authority when an auditor ceases to hold office apply equally to auditors engaged in sustainability reporting assurance.
• References in those notification rules to the removal of auditors (section 394) or their resignation (section 400) are to be read as referring to those provisions as adapted for sustainability reporting auditors by section 1623.
• Any other necessary modifications may be made to ensure the notification rules operate properly in the sustainability reporting assurance context.
• This ensures the Supervisory Authority maintains oversight of changes in the appointment of sustainability reporting auditors, mirroring the transparency requirements already in place for statutory audit appointments.